We know that Hironobu Sakaguchi, the father of the Final Fantasy franchise and the creator of Lost Odyssey/Blue Dragon is working hard on a new project in which it will be officially unveiled in spring 2010. But it seems that he and Mistwalker are working on another project and it will be released soon according to him.

Sakaguchi posted on Mistwalker’s official website that he is currently working on a second project for the iphone:
 

“2010 is the year of my long-awaited new blockbuster project.
I’m putting my heart and soul into this production. I’m taking a full swing and making this the best project.
Oh, by the way, We are also working on a project for iPhone.
This should be released soon as well.
We will put our efforts together and do our best!
I’m sure you’ll Love it.”
 

Blue Dragon for the iphone or a new IP? More info will be released as we dive into 2010.